60 percent of businesses believe it is harder to source talent for data and analytics positions than for any other roles

The quote “60 percent of businesses believe it is harder to source talent for data and analytics positions than for any other roles” is accurate and reflects a growing challenge in the industry. This statistic comes from a McKinsey study that highlights the increasing difficulty companies face when trying to hire talent with data and analytics expertise. The demand for professionals who can manage, analyze, and leverage data is surging, but the supply of such talent is not keeping pace, making these roles harder to fill compared to others​.

This issue is significant because businesses are increasingly relying on data-driven decision-making to gain competitive advantages, optimize operations, and create new revenue streams. Without the necessary talent, companies struggle to fully utilize their data and may fall behind their competitors.

A fractional data team could be an ideal solution to this problem. Fractional data teams provide access to specialized, on-demand data experts without the need for full-time hires. This approach offers flexibility and scalability, allowing businesses to tap into top-tier talent when needed, while also reducing overhead costs. Fractional teams can quickly bridge the talent gap, enabling companies to continue their data initiatives without the delays or challenges associated with hiring full-time personnel​

• Nearly 50 percent of businesses say big data and analytics have fundamentally changed business practices in their sales and marketing departments.
• Big data ranks 20th across 33 key technologies when businesses were asked their top technologies and initiatives strategic to business intelligence.
• 95 percent of businesses need to manage unstructured data.
• Only 7% of marketers surveyed report that they are currently effectively able to deliver real-time, data-driven marketing engagements across both physical and digital touchpoints.
• Insights-driven businesses are growing at an average of more than 30% each year, and by 2021, they are predicted to take $1.8 trillion annually from their less-informed peers.
• By 2025, IDC predicts that the total amount of digital data created worldwide will rise to 163 zettabytes, ballooned by the growing number of devices and sensors
• 83 percent of enterprise executives say they’ve pursued big data projects to gain a competitive advantage.
• 21 percent of investment professionals use web traffic to derive data.
• 29 percent of investment professionals use expert networks to derive data.
• 79 percent of enterprise executives say that not embracing big data will cause companies to lose competitive position and risk extinction.